Recently, Yahoo has cease down its news websites in India adhering to the latest foreign direct investment (FDI) rules. The news sites included: Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India. However, the Yahoo e-mail and search results in India will remain unaffected. As per the new FDI rules the ownership of media company that confers digital information is limited.
Yahoo’s official note in its website read: “As of August 26th, 2021 Yahoo India will no longer be publishing content. Your Yahoo Account, Mail and Search experiences will not be affected in any way and will operate as usual. We thank you for your support and readership.”
“We did not come to this decision lightly. However, Yahoo India has been impacted by changes to regulatory laws in India that now limit the foreign ownership of media companies that operate and publish digital content in India. Yahoo has had a long association with India and we’re really proud of the premium, local content we have provided our users here for the last 20 years,” it said.
It further iterated that Yahoo Cricket’s news division was pressed down by the latest FDI guidelines, a note by the company stated that, “it was impacted under the new FDI regulations that limit foreign ownership of media companies that operate and publish digital content in India in the ‘News and Current Affairs’ space.”
“In case you are a Yahoo Mail user, this change does not affect you in any way. This development does not impact our products Yahoo Mail and Yahoo Search, where we will continue to serve users in India as before, without any change,” it averred.